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Peel Holdings: Liverpool Waters Scheme

Hot on the heels of the ┬ú4.5bn Wirral Waters scheme, which itself will generate 400,000 sq. ft. of prime waterfront office space, Peel Holdings have today submitting planning application for an even bigger North West redevelopment project ΓÇô the ┬ú10bn Liverpool Waters.

The ambitious scheme, which will occupy around 60 hectares of space located to the north of LiverpoolΓÇÖs Pier Head, is the second half of Peel Holdings ΓÇ£Peel WatersΓÇ¥ scheme that last month took a major step toward realisation following planning permission being granted for the second half of the scheme ΓÇô the ┬ú4.5bn ΓÇ£Wirral WatersΓÇ¥.

According to the Liverpool Waters website, the vision for the historic dockland site is to create a world-class, high quality district in Central Liverpool. Designed to incorporate the sites cultural heritage with a modern vibrant place in which people can both live and work.

While the amount of Grade A office space generated by the Liverpool Waters scheme is yet to be announced, the fact that it is the larger of the two schemes that make up the Peel Waters project suggests that an even greater amount of quality office space will be delivered.

The 30 year long project, which it is hoped will generate 17,000 permanent jobs within the borders of the scheme ΓÇô as well as a substantial amount through indirect activity, has been somewhat of a labour of love for Peel, with the large number of individuals, groups and professionals involved at times finding it hard to reach agreement as to how best to move the project forward, as Lindsey Ashworth, Development Director at Peel explained to thebusinessdesk.com:

ΓÇ£It is a fantastic and almost unbelievable achievement to get a scheme of this scale and nature to a point where a planning application can be submitted.

“With the amount of people involved in the process I have to say that itΓÇÖs been very difficult to get a general consensus of agreement but we have managed this because all the stakeholders are proud of Liverpool and want this project to be delivered and therefore have made massive efforts to get it to this stage.”

“It has been a very costly exercise and there is much more to be done, but Peel believes that Liverpool can be a greater city and that Liverpool Waters will be a major part of its future and that it will all be worth the effort in the end”.

Given the level of development taking place in nearby Manchester, which includes the high profile Salford Quays & Media City (another Peel Holdings scheme), Spinningfields and the regeneration of Salford City Centre ΓÇô all of which include large amounts of high-quality office space – the level of investment being made in LiverpoolΓÇÖs long term future is perhaps necessary if it is to be able to compete with its North West neighbor.